Making the same mistake again—or is this time
... The evolving political and economic responses to the developing crisis have demonstrated that this time the situation is, indeed, different. The collapse of Bear Stearns and its subsequent sale to JP Morgan at a knockdown price of $2.00 a share was reminiscent of the swift action taken to avert a wi ...
... The evolving political and economic responses to the developing crisis have demonstrated that this time the situation is, indeed, different. The collapse of Bear Stearns and its subsequent sale to JP Morgan at a knockdown price of $2.00 a share was reminiscent of the swift action taken to avert a wi ...
Document
... strengthening of efforts against tax evasion; reduction in transfers from central to regional and local governments Increase of VAT (3 percentage points); introduction of capital income tax; increase of personal income flat tax rate (3 percentage points); broadened base for property tax; public sect ...
... strengthening of efforts against tax evasion; reduction in transfers from central to regional and local governments Increase of VAT (3 percentage points); introduction of capital income tax; increase of personal income flat tax rate (3 percentage points); broadened base for property tax; public sect ...
The Greek Economy under Reform - Konrad-Adenauer
... Greece faces an economic crisis that turns out to be one of the most severe over the last decades. The costs are already significant and are illustrated on the strong negative impact on real economic activity: Greece has lost more than 20% of its GDP from 2008 to 2012, while increasing unemployment ...
... Greece faces an economic crisis that turns out to be one of the most severe over the last decades. The costs are already significant and are illustrated on the strong negative impact on real economic activity: Greece has lost more than 20% of its GDP from 2008 to 2012, while increasing unemployment ...
English - European Stability Mechanism
... is starting to feel some arrhythmias. Would you say that the social cost of new pension cuts is too high and could bring back political instability in Greece? “I am not an expert on pension reform but I know that pension reforms have been difficult in every country in Europe for obvious reasons: it ...
... is starting to feel some arrhythmias. Would you say that the social cost of new pension cuts is too high and could bring back political instability in Greece? “I am not an expert on pension reform but I know that pension reforms have been difficult in every country in Europe for obvious reasons: it ...
Greece
... Nightmare scenario of growth < 0, as past experience shows that Greek recessions are the worst ones in the OECD, with a total mean output loss of -6.45% of GDP (2 times bigger the mean OECD country loss and 3 times the median loss) ...
... Nightmare scenario of growth < 0, as past experience shows that Greek recessions are the worst ones in the OECD, with a total mean output loss of -6.45% of GDP (2 times bigger the mean OECD country loss and 3 times the median loss) ...
Thank you very much for inviting me here today. I`m flattered to
... First, the starting point is very bad. Public debt is rising rapidly and from a very high level. The deficit is huge, the debt structure poor. Second, and crucially, Greece’s economic growth prospects are weak. The country’s financial position will not be sustainable against a backdrop of slump and ...
... First, the starting point is very bad. Public debt is rising rapidly and from a very high level. The deficit is huge, the debt structure poor. Second, and crucially, Greece’s economic growth prospects are weak. The country’s financial position will not be sustainable against a backdrop of slump and ...
Growth Potentials of the Greek economy (ecosystems of dynamic
... A “solidarity tax” on total declared incomes from self employed higher than €12,000 was introduced. The tax rate ranges from 1% to 5%. Additional property tax is collected via electricity bills from 2011 with expected revenues close to 1% of GDP (€2.5bn in ...
... A “solidarity tax” on total declared incomes from self employed higher than €12,000 was introduced. The tax rate ranges from 1% to 5%. Additional property tax is collected via electricity bills from 2011 with expected revenues close to 1% of GDP (€2.5bn in ...
Austerity: The Answer to Europe`s Crisis
... were as intertwined as ever. If any one of them would default, it could cause a major collapse of other banks and institutions. If any one bank went bankrupt then this would prompt a government response, meaning increased government debt. Markets determined that a default by Spain would be much wors ...
... were as intertwined as ever. If any one of them would default, it could cause a major collapse of other banks and institutions. If any one bank went bankrupt then this would prompt a government response, meaning increased government debt. Markets determined that a default by Spain would be much wors ...
the andrew marr show interview: yanis varoufakis
... Well, let me put it very succinctly. For the last four months the Greek State has been managing not only to pay salaries, pensions and its various obligations internally, domestically. But also to extract from the fabric of the public sector up to 14 per cent of GDP in order to meet repayments to th ...
... Well, let me put it very succinctly. For the last four months the Greek State has been managing not only to pay salaries, pensions and its various obligations internally, domestically. But also to extract from the fabric of the public sector up to 14 per cent of GDP in order to meet repayments to th ...
PowerPoint-Präsentation
... “Debt (net of collateral required for PSI) would peak at 186 percent of GDP in 2013 and decline only to 152 percent of GDP by end-2020 and to 130 percent of GDP by end-2030. … Greece would not return to the market until 2021 … cumulatively official additional financing needs (beyond what remains in ...
... “Debt (net of collateral required for PSI) would peak at 186 percent of GDP in 2013 and decline only to 152 percent of GDP by end-2020 and to 130 percent of GDP by end-2030. … Greece would not return to the market until 2021 … cumulatively official additional financing needs (beyond what remains in ...
November 13, 2013, The Citizen`s Share Idea for Europe, Saving EU
... Ford $8,300; Chrysler $2,250. GM expected to exceed $7,325. For new Ford hires, paid ~1/2 what senior workers make, $8,300 adds 23 percent to annual of $36,000 compensation. (Bloomberg, Feb 2013) Small? Auto-related industries and after-market service businesses US employed 3.1 million vs 4.7 millio ...
... Ford $8,300; Chrysler $2,250. GM expected to exceed $7,325. For new Ford hires, paid ~1/2 what senior workers make, $8,300 adds 23 percent to annual of $36,000 compensation. (Bloomberg, Feb 2013) Small? Auto-related industries and after-market service businesses US employed 3.1 million vs 4.7 millio ...
images/uploads/SPL Beware Greeks Bearing Gifts
... and the International Monetary Fund (IMF) have to demand quantifiable proof that reform has been and will continue to be implemented. After all it is only by the largesse of the troika worth some EUR240Bn that Greece has been able to stay inside the Euro tent and that accommodation has helped keep t ...
... and the International Monetary Fund (IMF) have to demand quantifiable proof that reform has been and will continue to be implemented. After all it is only by the largesse of the troika worth some EUR240Bn that Greece has been able to stay inside the Euro tent and that accommodation has helped keep t ...
Peter/Marko changes in GREEN
... since Greece joined the eurozone that it has been downgraded below an "A" grade rating. Meanwhile, rating agency Standard & Poor's warned Dec. 7 that Greek banks faced the highest long-term economic risks in Europe. Economic problems in Greece are causing investors to worry that the entire eurozone ...
... since Greece joined the eurozone that it has been downgraded below an "A" grade rating. Meanwhile, rating agency Standard & Poor's warned Dec. 7 that Greek banks faced the highest long-term economic risks in Europe. Economic problems in Greece are causing investors to worry that the entire eurozone ...
What Greece should avoid and what it should strive for
... What would happen if Greece were to leave the euro? First, Greece will not go “back to the drachma” at the old exchange rate of 340.75 drachmas per euro, but to a New Drachma (NDR) with an exchange rate of 1,000 NDR per euro. This means that all imported goods (and many Greek substitutes) will sudde ...
... What would happen if Greece were to leave the euro? First, Greece will not go “back to the drachma” at the old exchange rate of 340.75 drachmas per euro, but to a New Drachma (NDR) with an exchange rate of 1,000 NDR per euro. This means that all imported goods (and many Greek substitutes) will sudde ...
eurozone_debt_crisis
... important, the OECD said Greece needed to crack down on tax dodgers, and sell off state-owned businesses, to raise funds. (Source: OECD, Economic Survey of Greece 2011) In return for austerity measures, Greece's debt has been cut in half. However, these measures have also slowed the Greek economy by ...
... important, the OECD said Greece needed to crack down on tax dodgers, and sell off state-owned businesses, to raise funds. (Source: OECD, Economic Survey of Greece 2011) In return for austerity measures, Greece's debt has been cut in half. However, these measures have also slowed the Greek economy by ...
Topic B : The Greece Debt Crisis
... a time of major political shifts and massive spending to integrate the newly formed democratic government. Although the spending was toward the newly established government system, there was more spending than what Greece actually had. In 2001, Greece joined the Euro zone. At that time, the introduc ...
... a time of major political shifts and massive spending to integrate the newly formed democratic government. Although the spending was toward the newly established government system, there was more spending than what Greece actually had. In 2001, Greece joined the Euro zone. At that time, the introduc ...
The Decline of Austerity Politics
... billion euro ($5.6 billion) recapitalization of Portugal’s Caixa Geral de Depósitos, a state-owned entity and Portugal’s largest bank by assets. The plan includes a government injection of 2.7 billion euros which the EU has agreed not to consider state aid. European authorities are showing great fle ...
... billion euro ($5.6 billion) recapitalization of Portugal’s Caixa Geral de Depósitos, a state-owned entity and Portugal’s largest bank by assets. The plan includes a government injection of 2.7 billion euros which the EU has agreed not to consider state aid. European authorities are showing great fle ...
Macro and Micro Dimensions in the Politics of Austerity
... Top down macro-economic or bottom-up household? Vulnerable countries An international stimulus: all countries equally affected Macro-economic: a crisis of banks, ministries of finance But vulnerability differs with national economic policies ...
... Top down macro-economic or bottom-up household? Vulnerable countries An international stimulus: all countries equally affected Macro-economic: a crisis of banks, ministries of finance But vulnerability differs with national economic policies ...
presentation
... Internet (46% penetration 2nd lowest in EU), IT. Law, judiciary. Speed of law courts is slow. Bribery and facilitation payments Bureaucracy. Growth and soviet state are incompatible. Land ownership and land law. ...
... Internet (46% penetration 2nd lowest in EU), IT. Law, judiciary. Speed of law courts is slow. Bribery and facilitation payments Bureaucracy. Growth and soviet state are incompatible. Land ownership and land law. ...
Greece – What else?
... to offload much of their Greek sovereign debt holdings. Greece was saved and so were those foreign banks that had lent Greek governments large amounts of money without stopping to think how this debt could ever be repaid. In exchange, Greek governments have been asked to deliver on a highly ambitiou ...
... to offload much of their Greek sovereign debt holdings. Greece was saved and so were those foreign banks that had lent Greek governments large amounts of money without stopping to think how this debt could ever be repaid. In exchange, Greek governments have been asked to deliver on a highly ambitiou ...
How Does Greece Impact You?
... easy monetary policy fostering loose credit. If Greece defaults, then you could see big drops in the spot prices of currencies plus some competitive devaluation. All of this could make gold look very, very good. On the other hand, if true systemic risk hits global markets, investment banks and hedge ...
... easy monetary policy fostering loose credit. If Greece defaults, then you could see big drops in the spot prices of currencies plus some competitive devaluation. All of this could make gold look very, very good. On the other hand, if true systemic risk hits global markets, investment banks and hedge ...
Greece, will there be a miracle from Zeus?
... want to negotiate with you" that creditors have expressed. On July 20th, Greece must pay 3.500 billion euros to the European Central Bank (ECB), but if an agreement is not reached, it would enter into default, as it did with the IMF, to which did not pay the 1.600 billion euros. The situation, thoug ...
... want to negotiate with you" that creditors have expressed. On July 20th, Greece must pay 3.500 billion euros to the European Central Bank (ECB), but if an agreement is not reached, it would enter into default, as it did with the IMF, to which did not pay the 1.600 billion euros. The situation, thoug ...
Page number problem in Japanese
... If Greece defaults again, this time really will be different. The finances of the world are linked more tightly. Derivatives obscure and sometimes concentrate risks. Greece is locked into a single currency with 16 other nations. It's possible that the global economy could get lucky, and a Greek defa ...
... If Greece defaults again, this time really will be different. The finances of the world are linked more tightly. Derivatives obscure and sometimes concentrate risks. Greece is locked into a single currency with 16 other nations. It's possible that the global economy could get lucky, and a Greek defa ...
austerity packages TURI Athens
... Summary of Main Findings • Still early to robustly assess the full scale and impact of austerity packages. However, • Austerity right across EU, but large national variations • Large frontloaded packages in fiscally constrained MS • Major concerns about their effect on (employment) recovery and con ...
... Summary of Main Findings • Still early to robustly assess the full scale and impact of austerity packages. However, • Austerity right across EU, but large national variations • Large frontloaded packages in fiscally constrained MS • Major concerns about their effect on (employment) recovery and con ...
Greek government-debt crisis countermeasures
The Greek government-debt crisis is one of a number of current European sovereign-debt crises. In late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations because of strong increase in government debt levels. This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other countries in the Eurozone, most importantly Germany.